# Canada Know-Risk Market Outlook | Canola Resistance Holding Firm

> StoneX says November canola is struggling below resistance near $700 per tonne, with a close under $660 needed to change the trend. Western Canada rains have improved soil moisture, and weak Chinese demand continues to weigh on expectations.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30224-canada-know-risk-market-outlook-canola-resistance-holding-firm
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Technical resistance and weak Chinese demand suggest limited upside, while seasonal patterns favour forward sales or hedges for new-crop canola.

## Read by commodity

- CANMEAL: bearish ▼

## Sources

- stonex.com: https://www.stonex.com/en/insights/canada-know-risk-market-outlook-canola-resistance-holding-firm-1500655/
- stonex.com: https://www.stonex.com/en-us/insights/canada-know-risk-market-outlook-canola-resistance-holding-firm-1500655/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.